Michigan Society of Healthcare Risk Management STRATEGIC PLAN

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1 Michigan Society of Healthcare Risk Management STRATEGIC PLAN MSHRM MISSION IMPACT FACTORS The Michigan Society of Healthcare Risk Management fosters a collaborative learning environment to promote professional development and leadership in management of risk across the healthcare enterprise. The Board reviewed seven key ways to make an impact (Nonprofit Sustainability: Making Strategic Decisions for Financial Viability, Bell, Masaoka, and Zimmerman, Jossey-Bass, 2010, pp 39-53), and decided that the three most important impact factors for MSHRM were: Excellence in execution or the ability to offer programs and services in a consistently outstanding and superior way; Filling an important gap, which was not being filled by others in an effective manner; Community or the degree to which an organization increases the sense of belonging to an important and impactful group. GOALS & STRATEGIES Goals are longer term directions that represent explicit major choices about the scope of the organization and the outcomes it wants to achieve, taking advantage of internal strengths and external opportunities. Strategies are means to achieve the goals. Goal 1: EDUCATION MSHRM will be recognized as the premier educational provider of Enterprise Risk Management (ERM) in Michigan. 1.1 MSHRM will provide education on a broad range of topics relevant to ERM. 1.2 MSHRM will promote the use of ERM throughout the healthcare industry. 1

2 GOAL 2: VOLUNTEER LEADERSHIP MSHRM will engage more volunteers and nurture volunteers who are eager and trained to lead. 2.1 MSHRM will improve the ease and attractiveness of volunteerism. 2.2 MSHRM will develop a suggested leadership succession plan. 2.3 MSHRM will strengthen volunteer recognition for those who have actively participated in the prior year. GOAL 3: STEWARDSHIP MSHRM will have an effective membership and operating structure to ensure resources to execute the strategic plan. 3.1 MSHRM will review/evaluate the MSHRM financial plan annually. 3.2 MSHRM will expand membership by 40 net members over the next 3 years, including a focus on non-hospital risk managers. 3.3 MSHRM will maintain current and increase new sponsor relationships. 3.4 MSHRM will monitor and report on its strategic plan. GOAL 4: VISIBILITY MSHRM will increase its influence and visibility in organizations employing its members, throughout the state and nationally. 4.1 MSHRM will strengthen its value to members and to their employing organizations. 4.2 MSHRM will promote the value of its organization to the national level. 4.3 MSHRM will collaborate with targeted, well regarded organizations. 2

3 GOAL 5: COMMUNICATIONS MSHRM will effectively use diverse communication techniques. 5.1 MSHRM will develop focused external communications. 5.2 MSHRM will broaden its internal communications. 3

4 APPENDIX A: BACKGROUND AND RATIONALE FOR THE PLAN The MSHRM Board of Directors met in October of 2012 to develop a new strategic plan. With the pervasive changes in healthcare and the need for leadership in these transformational times, MSHRM leaders thought that now was the time to develop a new plan with an eye toward remaining relevant in the next few years, while still remaining true to MSHRM s core values and culture. The participants agreed that strategic planning is a structured process through which an organization agrees on, and builds commitment to priorities that are essential to its mission and are responsive to the environment. Since MSHRM has been a very successful organization, it wanted to build on its considerable strengths and take advantage of opportunities in the changing landscape of healthcare. FUTURE ROLE OF THE RISK MANAGER As part of the planning efforts, the Board s discussion reinforced defining the role of the risk management professional in a transformed health care system as: Anticipating, defining, preventing, controlling and compensating all risk events in the enterprise and in specific health care settings, including clinical, operational, financial, human capital, strategic, legal/regulatory, technology, and hazard risks. Enterprise risk management refers to the on going business decision making process instituted and supported by an organization s board, executive staff and medical staff leadership. The ERM program recognizes the synergistic effect of risks across the continuum of care, and it has as its goals the reduction of uncertainty and process variability, promotion of patient safety and maximization of the return on investment (ROI) through asset preservation, and the recognition of actionable risk opportunities. Adopted from the definition advanced by Roberta Carroll in Enterprise Risk Management: What s It All About? RATIONALE FOR MSHRM S PROPOSED NEW DIRECTION As the U.S. health system transforms to a value based system, there is a unique role for risk management professionals as leaders who will be defined as follows: Leaders in healthcare paradigm shift Included in business decision-making, including the upside of risk Sought after by C suite Inform strategic, big picture decisions; emphasis on strategic thinking Experts who are knowledgeable on a broad range of risk management issues, and can find resources to provide solutions Rely on judgment, intuition, and human interactions as well as technical expertise Diversified outside of the hospital to diverse setting (hospice, physician offices, etc.) Assure continuity across settings 4

5 Manage risk of under treating, which may increase (managed risk management) Includes reliability science New focus on prevention (lessons from infection control and public health) Includes informatics Includes quantitative analytics and predictive modeling Includes expertise in human factors Persuasive and compelling speakers/storytellers 5

6 APPENDIX B: STRATEGIC PLANNING PROCESS At the beginning of its planning work, the MSHRM Board of Directors established several key outcomes for the process as follows: DESIRED PLANNING OUTCOMES Solidify a vision and put everyone on the same page. Emphasize the new and meaningful. Foster fresh ideas that will help us do a better job. Provide a guide for solid, concrete results. Help outline MSHRM s goals to the membership and provide a way to measure and demonstrate outcomes. Grow and diversify membership. Financial stewardship. Clearly realized path to leadership within MSHRM. Show that the organization is up to date, and outline what will drive us going forward. Short and long term goals so leadership and members are all working together. Help us protect our great tradition and develop solid goals for the future so that we remain relevant. Increased volunteerism. Be seen as the go to organization for risk management. As part of its Environmental Scan and SWOT Analysis (Strengths, Weakness, Opportunities, and Threats), the MSHRM Board looked at the new ASHRM Strategic Plan and the recent Environmental Scan from the American Hospital Association for guidance. Then they applied these ideas to MSRHM as shown in the analysis below. External Opportunities to Capitalize on External Threats to Avoid/Mitigate Field is changing (Affordable Care Act) with opportunities for expanded membership scope Opportunity for more non hospital based risk managers Opportunities to expand education Opportunities with intersection of risk management, quality and compliance Opportunity to align with ASHRM new plan New technology opportunities with telemedicine, robotics, EHR, etc. Role of risk manager becoming broader More use of mid level providers Enhanced supply of providers Increased access to health care Role of risk manager is changing with them being asked to do more with less Meeting new needs of vendor partners Not being relevant in a consolidating healthcare industry Value based purchasing puts new pressure on risk managers Shrinking budgets at a time when education is needed more than ever Questioning of role of risk managers Role in patient safety Being relevant to a new generation Uncertain economy 6

7 Internal Strengths to Leverage Internal Weaknesses to Minimize/Shore up Members who are collegial and supportive Committed Board and volunteer leaders Stable and diverse membership Financially strong Strong educational programming and conference Well regarded and used networking organization Strong industry support Up to date technology and website Scope and depth of expertise Provide good value for dues Beneficial relationships with ASHRM Lack of strong pipeline to replace current volunteers Limited pool for Board/volunteer talent Challenge to continue to be best ever conference Struggle with geography and reaching our members Always need to make sure we are relevant, without raising dues Need to justify support of employing organization Worry about not embracing new and or diverse members; being perceived as a closed group Need to be visible throughout the year Strategic Planning Consultant Kathleen R. Henrichs, PhD Henrichs & Associates 1204 Grant Street Evanston, IL KRHenrichs@msn.com 7